Surf Air Mobility Inc. Common Stock Q1 2024 GAAP EPS $(0.48) Misses $(0.19) Estimate, Sales $30.62M Beat $29.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Surf Air Mobility Inc. (SRFM) reported Q1 2024 earnings with a GAAP EPS of $(0.48), missing the $(0.19) estimate, but sales of $30.62M exceeded the $29.14M forecast. This represents a significant improvement over the previous year, with losses decreasing by 67.12% and sales increasing by 456.09%.

May 14, 2024 | 8:22 pm
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NEUTRAL IMPACT
Surf Air Mobility Inc. reported a larger-than-expected Q1 2024 loss per share but exceeded sales forecasts, showing significant year-over-year growth.
While the EPS miss is negative, the substantial sales beat and year-over-year growth in both earnings and sales could balance investor sentiment. The significant improvement in financial performance compared to the previous year indicates a strong growth trajectory, which might offset the negative impact of the earnings miss in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100